Meanwhile after strong bounce in mid-cap segment and FIIs pumping whopping ₹9,010 crore in Indian markets on Wednesday session, grey market sentiment in regard to Dharmaj Crop Guard shares has gone further bullish. According to market observers, shares of Dharmaj Crop Guard Ltd are available at a premium of ₹56 per share in grey market today.
Dharmaj Crop Guard IPO GMP today
Market observers said that Dharmaj Crop Guard IPO grey market premium (GMP) today is ₹56, which is ₹4 higher from its yesterday's GMP of ₹52. They said that rise in GMP can be attributed to two major reasons — mid-cap participation in current stock market rally and FIIs turning net buyers by a huge margin. They said that this rise of ₹4 might look small but it should not be taken lightly. After mid-cap segment participating in current stock market rally, chances are high about Nifty hitting 19,000 levels in near term. In such case, Dharmaj Crop Guard IPO may have a bulls case listing and grey market is signaling the same.
What this GMP mean
Market observers went on to add that Dharmaj Crop Guard IPO GMP today is ₹56 that means grey market is expecting that the public issue worth ₹251.15 crore may list around ₹293 apiece levels, which is around 25 per cent higher from its price band of ₹216 to ₹237 per equity share.
Dharmaj Crop Guard IPO details
After closure of subscription date, all eyes are now fixed on Dharmaj Crop Guard IPO allotment date which is most likely on 5th December 2022. The public issue proposed for listing on both BSE and NSE and expected Dharmaj Crop Guard IPO listing date is 8th December 2022.
